Hsbc Holdings PLC Sells 5,636 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• HSBC Holdings PLC reduced its stake in Teledyne Technologies by 3.1%, selling 5,636 shares and holding approximately 0.37% of the company's stock worth $86.6 million.
• Teledyne Technologies announced a $2 billion stock buyback plan, indicating confidence in its stock's valuation and aiming to repurchase approximately 7.7% of its shares.
• Brokerage firms have given Teledyne Technologies a "Moderate Buy" rating, with an average target price of $576.57, following recent earnings that surpassed analysts' expectations.

Hsbc Holdings PLC lessened its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 174,487 shares of the scientific and technical instruments company's stock after selling 5,636 shares during the quarter. Hsbc Holdings PLC owned approximately 0.37% of Teledyne Technologies worth $86,622,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in Teledyne Technologies by 205.9% in the 1st quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock valued at $26,000 after buying an additional 35 shares during the period. NBC Securities Inc. acquired a new position in Teledyne Technologies in the 1st quarter valued at approximately $28,000. Quarry LP acquired a new position in Teledyne Technologies in the 4th quarter valued at approximately $28,000. TCTC Holdings LLC increased its stake in Teledyne Technologies by 97.4% in the 1st quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 37 shares during the period. Finally, Ancora Advisors LLC increased its stake in Teledyne Technologies by 192.3% in the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.

Insider Buying and Selling

In other Teledyne Technologies news, Director Michael T. Smith sold 1,975 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $560.10, for a total value of $1,106,197.50. Following the completion of the sale, the director owned 51,328 shares in the company, valued at approximately $28,748,812.80. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Simon M. Lorne sold 6,311 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $549.64, for a total transaction of $3,468,778.04. Following the completion of the sale, the director owned 61,913 shares of the company's stock, valued at $34,029,861.32. The trade was a 9.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,021 shares of company stock worth $8,315,662 in the last quarter. 1.50% of the stock is owned by corporate insiders.

Teledyne Technologies Stock Performance

Shares of NYSE TDY traded up $7.5850 during trading hours on Friday, hitting $550.0250. 146,903 shares of the stock were exchanged, compared to its average volume of 337,395. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07. The company's 50 day moving average is $531.35 and its 200 day moving average is $502.25. The firm has a market capitalization of $25.79 billion, a P/E ratio of 30.29, a P/E/G ratio of 2.56 and a beta of 1.07. Teledyne Technologies Incorporated has a one year low of $416.00 and a one year high of $570.56.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The business's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $4.58 EPS. Teledyne Technologies has set its FY 2025 guidance at 21.200-21.50 EPS. Q3 2025 guidance at 5.350-5.45 EPS. On average, research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies announced that its Board of Directors has approved a stock repurchase program on Wednesday, July 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the scientific and technical instruments company to buy up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stifel Nicolaus started coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective on the stock. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Morgan Stanley increased their price target on shares of Teledyne Technologies from $535.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, UBS Group increased their price target on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $576.57.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.